TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY

FRANKFORT, KY · CIK 714142 · 13F filing filed 2024-05-28

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityTeachers' Retirement System of the State of Kentucky (US)

$11.2bn reported value +4.3% vs Q4 2023

1,686positions

22.1%in top 10

35 new 172 added 604 reduced 28 sold out vs Q4 2023

This report includes the holdings of 23 other managers that share the investment decisions:

BAILLIE GIFFORD US EQ GROWTH STRATEGY – no 13F of its own this quarter
INTERNAL MGMT JL LOSEY SCHOLARSHIP FUND – no 13F of its own this quarter
INTERNAL MGMT S&P 400 INDEX – no 13F of its own this quarter
INTERNAL MGMT S&P 500 INDEX – no 13F of its own this quarter
INTERNAL MGMT S&P 600 INDEX – no 13F of its own this quarter
LIFE BAILLIE GIFFORD US EQ GROWTH – no 13F of its own this quarter
LIFE IN-HOUSE HIGH YIELD BOND – no 13F of its own this quarter
LIFE S&P 400 STOCK INDEX – no 13F of its own this quarter

15 more

LIFE S&P 500 STOCK INDEX – no 13F of its own this quarter
LIFE S&P 600 STOCK INDEX – no 13F of its own this quarter
MED BAILLIE GIFFORD US EQ GROWTH – no 13F of its own this quarter
MED IN-HOUSE HIGH YIELD BOND – no 13F of its own this quarter
MED S&P 400 STOCK INDEX – no 13F of its own this quarter
MED S&P 500 STOCK INDEX – no 13F of its own this quarter
MED S&P 600 STOCK INDEX – no 13F of its own this quarter
STATE STREET US PREMIER GROWTH – no 13F of its own this quarter
TODD INTERNATL INTRINSIC VALUE – no 13F of its own this quarter
TODD INTL INTRINSIC VALUE OPPORTUNITY – no 13F of its own this quarter
TODD INTRINSIC VALUE OPPORTUNITY – no 13F of its own this quarter
TODD LARGE CAP INTRINSIC VALUE – no 13F of its own this quarter
UBS VALUE ORIENTED – no 13F of its own this quarter
WELLINGTON LARGE CAP EQUITY – no 13F of its own this quarter
WELLINGTON SMALL CAP EQUITY – no 13F of its own this quarter

Shares in two reports are counted once in each security's totals.

Holdings, Q1 2024

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSOFT CORP COM MSFT	MSFT	1,221,796	$514.0m4.60%	4.60%	Reduced -89.4k	-89,388 -6.8%
2	NVIDIA CORPORATION COM NVDA	NVDA	411,681	$372.0m3.33%	3.33%	Reduced -61.9k	-61,865 -13.1%
3	AMAZON COM INC COM AMZN	AMZN	1,830,190	$330.1m2.96%	2.96%	Reduced -125.3k	-125,300 -6.4%
4	APPLE INC COM AAPL	AAPL	1,909,769	$327.5m2.93%	2.93%	Reduced -139.8k	-139,757 -6.8%
5	META PLATFORMS INC CL A META	META	423,214	$205.5m1.84%	1.84%	Reduced -24.6k	-24,619 -5.5%
6	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,338,662	$202.0m1.81%	1.81%	Reduced -19.2k	-19,200 -1.4%
7	BROADCOM INC COM AVGO	AVGO	129,340	$171.4m1.53%	1.53%	Reduced -13.9k	-13,924 -9.7%
8	UNITEDHEALTH GROUP INC COM UNH	UNH	257,511	$127.4m1.14%	1.14%	Reduced -24.9k	-24,879 -8.8%
9	ALPHABET INC CAP STK CL C GOOG	GOOG	748,657	$114.0m1.02%	1.02%	Reduced -79.8k	-79,767 -9.6%
10	JPMORGAN CHASE & CO COM JPM	JPM	503,125	$100.8m0.90%	0.90%	Reduced -41.1k	-41,145 -7.6%
11	PARKER-HANNIFIN CORP COM PH	PH	167,219	$92.9m0.83%	0.83%	Added +44.8k	+44,817 36.6%
12	VISA INC COM CL A V	V	313,806	$87.6m0.78%	0.78%	Reduced -28.1k	-28,059 -8.2%
13	UNITED RENTALS INC COM URI	URI	121,316	$87.5m0.78%	0.78%	Reduced -36.3k	-36,342 -23.1%
14	ELI LILLY & CO COM LLY	LLY	109,748	$85.4m0.76%	0.76%	Reduced -3.1k	-3,108 -2.8%
15	KLA CORP COM NEW KLAC	KLAC	113,109	$79.0m0.71%	0.71%	Reduced -17.8k	-17,814 -13.6%
16	MASTERCARD INCORPORATED CL A MA	MA	163,185	$78.6m0.70%	0.70%	Reduced -14.5k	-14,485 -8.2%
17	HOME DEPOT INC COM HD	HD	187,979	$72.1m0.65%	0.65%	Reduced -21.4k	-21,393 -10.2%
18	QUALCOMM INC COM QCOM	QCOM	417,009	$70.6m0.63%	0.63%	Reduced -54.4k	-54,405 -11.5%
19	SALESFORCE INC COM CRM	CRM	222,310	$67.0m0.60%	0.60%	Reduced -23.0k	-22,998 -9.4%
20	MERCK & CO INC COM MRK	MRK	499,680	$65.9m0.59%	0.59%	Reduced -35.1k	-35,125 -6.6%
21	AUTOZONE INC COM AZO	AZO	20,675	$65.2m0.58%	0.58%	Reduced -1.5k	-1,503 -6.8%
22	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	150,044	$63.1m0.56%	0.56%	Reduced -6.4k	-6,406 -4.1%
23	TESLA INC COM TSLA	TSLA	349,006	$61.4m0.55%	0.55%	Reduced -90.6k	-90,630 -20.6%
24	CHUBB LIMITED COM CB	CB	232,070	$60.1m0.54%	0.54%	Added +63.0k	+63,032 37.3%
25	ABBVIE INC COM ABBV	ABBV	325,922	$59.4m0.53%	0.53%	Reduced -40.8k	-40,812 -11.1%
26	NXP SEMICONDUCTORS N V COM NXPI	NXPI	237,833	$58.9m0.53%	0.53%	Added +108.8k	+108,785 84.3%
27	AMERIPRISE FINL INC COM AMP	AMP	131,264	$57.6m0.52%	0.52%	Reduced -12.5k	-12,505 -8.7%
28	NETFLIX INC COM NFLX	NFLX	92,814	$56.4m0.50%	0.50%	Reduced -24.2k	-24,185 -20.7%
29	BANK AMERICA CORP COM BAC	BAC	1,358,194	$51.5m0.46%	0.46%	Reduced -86.1k	-86,070 -6.0%
30	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	86,460	$50.3m0.45%	0.45%	Reduced -3.7k	-3,742 -4.2%
31	AMERICAN EXPRESS CO COM AXP	AXP	219,594	$50.0m0.45%	0.45%	Reduced -18.7k	-18,676 -7.8%
32	ADVANCED MICRO DEVICES INC COM AMD	AMD	275,533	$49.7m0.45%	0.45%	Reduced -45.0k	-45,029 -14.1%
33	SHELL PLC SPON ADS SHEL	SHEL	736,170	$49.4m0.44%	0.44%	Reduced -85.2k	-85,200 -10.4%
34	PROCTER AND GAMBLE CO COM PG	PG	303,088	$49.2m0.44%	0.44%	Reduced -16.5k	-16,463 -5.2%
35	ON SEMICONDUCTOR CORP COM ON	ON	639,741	$47.1m0.42%	0.42%	Added +91.2k	+91,171 16.6%
36	MORGAN STANLEY COM NEW MS	MS	484,659	$45.6m0.41%	0.41%	Reduced -45.2k	-45,220 -8.5%
37	COSTCO WHSL CORP NEW COM COST	COST	62,236	$45.6m0.41%	0.41%	Reduced -40.5k	-40,474 -39.4%
38	TOTALENERGIES SE SPONSORED ADS SPONSORED ADS		642,170	$44.2m0.40%	0.40%	Reduced -10.8k	-10,800 -1.6%
39	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	103,727	$43.4m0.39%	0.39%	Reduced -12.8k	-12,785 -11.0%
40	JABIL INC COM JBL	JBL	322,711	$43.2m0.39%	0.39%	Added +101.9k	+101,869 46.1%
41	PHILLIPS 66 COM PSX	PSX	263,279	$43.0m0.38%	0.38%	Reduced -26.1k	-26,116 -9.0%
42	ADOBE INC COM ADBE	ADBE	83,261	$42.0m0.38%	0.38%	Reduced -10.8k	-10,764 -11.4%
43	SERVICENOW INC COM NOW	NOW	54,898	$41.9m0.37%	0.37%	Reduced -9.0k	-8,983 -14.1%
44	PROGRESSIVE CORP COM PGR	PGR	200,683	$41.5m0.37%	0.37%	Added +9.1k	+9,130 4.8%
45	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	211,883	$40.5m0.36%	0.36%	Reduced -1.2k	-1,205 -0.6%
46	ORACLE CORP COM ORCL	ORCL	320,236	$40.2m0.36%	0.36%	Reduced -27.1k	-27,108 -7.8%
47	CONOCOPHILLIPS COM COP	COP	311,618	$39.7m0.36%	0.36%	Reduced -24.8k	-24,794 -7.4%
48	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		581,681	$39.4m0.35%	0.35%	Added +62.7k	+62,743 12.1%
49	EXXON MOBIL CORP COM XOM	XOM	329,216	$38.3m0.34%	0.34%	Reduced -195.6k	-195,562 -37.3%
50	RIO TINTO PLC SPONSORED ADR RIO	RIO	597,180	$38.1m0.34%	0.34%	Added +17.1k	+17,100 3.0%
51	SCHLUMBERGER LTD COM STK SLB	SLB	679,645	$37.3m0.33%	0.33%	Reduced -602.2k	-602,212 -47.0%
52	AMGEN INC COM AMGN	AMGN	125,751	$35.8m0.32%	0.32%	Reduced -11.6k	-11,585 -8.4%
53	HCA HEALTHCARE INC COM HCA	HCA	106,544	$35.5m0.32%	0.32%	Reduced -92.7k	-92,665 -46.5%
54	CDW CORP COM CDW	CDW	137,902	$35.3m0.32%	0.32%	Added +2.7k	+2,670 2.0%
55	LOWES COS INC COM LOW	LOW	136,466	$34.8m0.31%	0.31%	Reduced -12.4k	-12,403 -8.3%
56	THE TRADE DESK INC COM CL A TTD	TTD	391,212	$34.2m0.31%	0.31%	Reduced -6.2k	-6,200 -1.6%
57	CRH PLC ORD CRH	CRH	396,410	$34.2m0.31%	0.31%	Added +28.0k	+28,000 7.6%
58	ULTA BEAUTY INC COM ULTA	ULTA	64,588	$33.8m0.30%	0.30%	Added +10.1k	+10,068 18.5%
59	DICKS SPORTING GOODS INC COM DKS	DKS	146,792	$33.0m0.30%	0.30%	Added +28.6k	+28,600 24.2%
60	CHEVRON CORP NEW COM CVX	CVX	209,062	$33.0m0.30%	0.30%	Reduced -63.1k	-63,107 -23.2%
61	JACOBS SOLUTIONS INC COM J	J	213,027	$32.7m0.29%	0.29%	Reduced -23.5k	-23,511 -9.9%
62	FISERV INC COM FISV	FISV	202,502	$32.4m0.29%	0.29%	Added +1.7k	+1,657 0.8%
63	MICRON TECHNOLOGY INC COM MU	MU	268,549	$31.7m0.28%	0.28%	Reduced -14.6k	-14,585 -5.2%
64	NVR INC COM NVR	NVR	3,898	$31.6m0.28%	0.28%	Reduced -408	-408 -9.5%
65	JOHNSON & JOHNSON COM JNJ	JNJ	198,975	$31.5m0.28%	0.28%	Reduced -10.2k	-10,243 -4.9%
66	DELL TECHNOLOGIES INC CL C DELL	DELL	269,100	$30.7m0.27%	0.27%	Reduced -147.4k	-147,400 -35.4%
67	CUMMINS INC COM CMI	CMI	104,089	$30.7m0.27%	0.27%	Reduced -11.1k	-11,082 -9.6%
68	BOSTON SCIENTIFIC CORP COM BSX	BSX	446,194	$30.6m0.27%	0.27%	Reduced -68.8k	-68,779 -13.4%
69	BEST BUY INC COM BBY	BBY	371,683	$30.5m0.27%	0.27%	Reduced -54.7k	-54,747 -12.8%
70	DISNEY WALT CO COM DIS	DIS	247,879	$30.3m0.27%	0.27%	Added +90.7k	+90,711 57.7%
71	APPLIED MATLS INC COM AMAT	AMAT	146,635	$30.2m0.27%	0.27%	Reduced -29.9k	-29,858 -16.9%
72	MARSH & MCLENNAN COS INC COM MRSH	MRSH	146,271	$30.1m0.27%	0.27%	Reduced -27.0k	-27,030 -15.6%
73	PACCAR INC COM PCAR	PCAR	241,802	$30.0m0.27%	0.27%	Reduced -38.9k	-38,939 -13.9%
74	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	56,594	$29.6m0.27%	0.27%	Unchanged
75	AMETEK INC COM AME	AME	161,107	$29.5m0.26%	0.26%	Reduced -26.2k	-26,177 -14.0%
76	PHILIP MORRIS INTL INC COM PM	PM	319,174	$29.2m0.26%	0.26%	Added +13.2k	+13,168 4.3%
77	MODERNA INC COM MRNA	MRNA	272,081	$29.0m0.26%	0.26%	Added +32.8k	+32,806 13.7%
78	WELLS FARGO CO NEW COM WFC	WFC	499,831	$29.0m0.26%	0.26%	Reduced -55.7k	-55,713 -10.0%
79	ELEVANCE HEALTH INC COM ELV	ELV	54,176	$28.1m0.25%	0.25%	Reduced -5.1k	-5,054 -8.5%
80	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	24,885	$28.1m0.25%	0.25%	Reduced -2.7k	-2,700 -9.8%
81	ING GROEP N.V. SPONSORED ADR ING	ING	1,695,710	$28.0m0.25%	0.25%	Added +257.4k	+257,440 17.9%
82	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	361,530	$27.9m0.25%	0.25%	Reduced -61.5k	-61,500 -14.5%
83	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	80,347	$27.8m0.25%	0.25%	Reduced -2.6k	-2,565 -3.1%
84	APA CORPORATION COM APA	APA	808,746	$27.8m0.25%	0.25%	Added +4.5k	+4,509 0.6%
85	FEDEX CORP COM FDX	FDX	95,308	$27.6m0.25%	0.25%	Reduced -510	-510 -0.5%
86	ABBOTT LABS COM ABT	ABT	241,936	$27.5m0.25%	0.25%	Reduced -11.6k	-11,594 -4.6%
87	VERIZON COMMUNICATIONS INC COM VZ	VZ	653,963	$27.4m0.25%	0.25%	Added +86.4k	+86,409 15.2%
88	FIDELITY NATL INFORMATION SV COM FIS	FIS	364,474	$27.0m0.24%	0.24%	Added +28.9k	+28,903 8.6%
89	MCKESSON CORP COM MCK	MCK	50,158	$26.9m0.24%	0.24%	Reduced -7.8k	-7,750 -13.4%
90	BOOKING HOLDINGS INC COM BKNG	BKNG	7,387	$26.8m0.24%	0.24%	Added +4.1k	+4,144 127.8%
91	MONSTER BEVERAGE CORP NEW COM MNST	MNST	451,105	$26.7m0.24%	0.24%	Reduced -63.1k	-63,121 -12.3%
92	CAPITAL ONE FINL CORP COM COF	COF	177,166	$26.4m0.24%	0.24%	Added +144.1k	+144,139 436.4%
93	LINDE PLC SHS LIN	LIN	56,656	$26.3m0.24%	0.24%	Reduced -13.5k	-13,494 -19.2%
94	TEXTRON INC COM TXT	TXT	273,793	$26.3m0.24%	0.24%	Added +95.5k	+95,450 53.5%
95	KROGER CO COM KR	KR	458,767	$26.2m0.23%	0.23%	Reduced -50.8k	-50,844 -10.0%
96	AERCAP HOLDINGS NV SHS AER	AER	300,760	$26.1m0.23%	0.23%	Added +52.0k	+52,000 20.9%
97	AMERICAN INTL GROUP INC COM NEW AIG	AIG	333,587	$26.1m0.23%	0.23%	Added +270.9k	+270,857 431.8%
98	S&P GLOBAL INC COM SPGI	SPGI	60,922	$25.9m0.23%	0.23%	Reduced -238	-238 -0.4%
99	ALTRIA GROUP INC COM MO	MO	589,383	$25.7m0.23%	0.23%	Reduced -58.4k	-58,405 -9.0%
100	MCDONALDS CORP COM MCD	MCD	91,005	$25.7m0.23%	0.23%	Reduced -8.7k	-8,703 -8.7%

Sold out since Q4 2023

Security	Ticker	Shares held before	Value then
REPSOL S.A. REPYY	REPYY	1,442,740	$21.4m1.4m shares
HITACHI LTD HTHIY	HTHIY	108,900	$15.7m108.9k shares
NIPPON TELEG & TEL CORP NTTYY	NTTYY	506,560	$15.4m506.6k shares
SOCIEDAD QUIMICA Y MINERA DE SQM	SQM	213,700	$12.9m213.7k shares
VEOLIA ENVIRONMENT ADR VEOEY	VEOEY	543,540	$8.6m543.5k shares
YPF SOCIEDAD ANONIMA YPF	YPF	230,500	$4.0m230.5k shares
LAZARD LTD LAZ	LAZ	101,200	$3.5m101.2k shares
ENEL CHILE S.A. ENIC	ENIC	1,048,700	$3.4m1.0m shares
ENERPLUS CORP ERF	ERF	170,900	$2.6m170.9k shares
ISHARES TR IWM	IWM	12,538	$2.5m12.5k shares
LIVENT CORP		130,160	$2.3m130.2k shares
SPIRIT RLTY CAP INC NEW SRC	SRC	45,211	$2.0m45.2k shares
FLEETCOR TECHNOLOGIES INC		6,426	$1.8m6.4k shares
COOPER COS INC		4,248	$1.6m4.2k shares
SHOALS TECHNOLOGIES GROUP IN SHLS	SHLS	82,671	$1.3m82.7k shares
RAYZEBIO INC		19,131	$1.2m19.1k shares
PHYSICIANS RLTY TR DOC	DOC	79,459	$1.1m79.5k shares
PGT INNOVATIONS INC PGTI	PGTI	19,445	$791.0k19.4k shares
CHEGG INC CHGG	CHGG	65,657	$747.0k65.7k shares
BUMBLE INC BMBL	BMBL	50,149	$739.0k50.1k shares
TRINET GROUP INC TNET	TNET	5,084	$605.0k5.1k shares
SAGE THERAPEUTICS INC SAGE	SAGE	21,020	$456.0k21.0k shares
RPT REALTY RPT	RPT	26,304	$338.0k26.3k shares
DISH NETWORK CORPORATION DISH	DISH	54,415	$314.0k54.4k shares
CHICOS FAS INC		40,598	$308.0k40.6k shares